90 Henry St, Binghamton, NY, 13901

Highlights

• Strong cash-flow upside: 26 studio apartments with 85% occupancy and applications coming in, pro forma financials at full stabilization projecting a 10% cap rate at the asking price.
• Prime Stadium District location: Desirable Commercial zoning in a top rental corridor for BU students, surrounded by restaurants, shops, banks, and entertainment venues amid ongoing reinvestment and redevelopment.
• Efficient, well-maintained asset: Secure building with one central boiler for ease of maintenance, offered at an exceptional $59,000 per door, making it a rare value opportunity in a high-demand market.

Description

This well-maintained 26-unit studio apartment building presents a compelling investment opportunity in the heart of the rapidly developing Stadium District of Binghamton. Currently operating at 85 percent occupancy with applications actively coming in, the asset demonstrates strong tenant demand and clear upside potential. The property is Commercial Zoning and walking distance to the SUNY bus lines and very close to the main bus terminal, offering flexibility and long-term value in one of the city’s most desirable rental corridors for Binghamton University students and downtown professionals.

The building is secure, professionally maintained, and designed for operational efficiency, featuring one central boiler that simplifies maintenance and reduces long-term operating complexity. The location is surrounded by restaurants, shops, banks, and entertainment venues, reinforcing its appeal to renters seeking a walkable, urban lifestyle.

Financials are based on a pro forma at full occupancy, delivering a projected 10 percent cap rate at the asking price. At only $59,000 per door, this offering represents a rare value-add opportunity in a market experiencing continued reinvestment and redevelopment, driving sustained demand for quality housing. Ideal for investors seeking strong yield, operational simplicity, and long-term appreciation in a proven downtown location.

Located in the heart of downtown Binghamton, 90 Henry Street sits within a dynamic, walkable corridor surrounded by a mix of residential, student housing, and commercial uses. The property is positioned near the Stadium District and downtown core, offering convenient access to restaurants, coffee shops, entertainment venues, and professional services. It benefits from strong proximity to Binghamton University amenities, public transportation, and major arterial roads, making it easily accessible for residents, tenants, or patrons. The surrounding area has seen continued reinvestment and redevelopment, contributing to a growing demand for housing and mixed-use opportunities and making this location well-suited for residential, commercial, or redevelopment potential.

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